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Real Estate Roller Coaster

Watch These 4 Trends To See Where Rent Prices Are Headed After The Pandemic

Marco Giacoletti, University of Southern CaliforniaMay 12, 2021November 15, 2021
moving day
Sections
  • Business
  • Society
Topics
  • COVID-19
  • Housing
  • Housing Prices
  • Landlords
  • Mortgages
  • Pandemic
  • Remote Work
  • Rental Properties

As more Americans get vaccinated and the country’s economic outlook improves, there’s a question on the minds of both renters and landlords: What will happen to rent prices once the pandemic ends?

Rents have been on a wild ride over the past year. The rent for a one-bedroom apartment in New York City dropped 18% and in San Francisco fell 24% last year as the pandemic and remote work spurred white-collar professionals to flee big cities. Landlords slashed prices and offered rent-free months to attract new tenants, while existing renters who were out of work struggled to keep up with payments. Meanwhile, rents in smaller cities such as Charlotte, North Carolina, and Boise, Idaho, jumped by as much as 20% as remote workers moved in.

As a professor at the USC Marshall School of Business who studies the rental and housing markets, I’ve been closely following the ups and downs of this unprecedented year. While it’s difficult to make predictions about where we’re headed, here are four trends I’m watching that could have a major impact on rent prices after the pandemic…

Read the full article online at Fast Company.

This article was produced by Footnote in partnership with University of Southern California Marshall School of Business.

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Contributed by

Marco Giacoletti

Marco Giacoletti

Assistant Professor of Finance and Business Economics, Marshall School of Business
University of Southern California

Marco Giacoletti is an Assistant Professor of Finance and Business Economics at the University of Southern California Marshall School of Business. His research focuses on economic trends and the factors affecting U.S. home and rental prices.

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